Washington: US President Donald Trump commented on recent stock market volatility for the first time on Wednesday, suggesting a wild sell-off may be due to good news about the economy.
“In the ‘old days,’ when good news was reported, the Stock Market would go up,” Trump tweeted. “Today, when good news is reported, the Stock Market goes down.”
In the “old days,” when good news was reported, the Stock Market would go up. Today, when good news is reported, the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!
— Donald J. Trump (@realDonaldTrump) February 7, 2018
The real estate tycoon suggested that was a "big mistake, and we have so much good (great) news about the economy!"
Tuesday’s sell-off and partial recovery on Wall Street have been fueled by expectations that rising wages and inflation will spur the Federal Reserve to raise interest rates.
Also Read: Wall Street bloodbath: Dow ends nearly 1,200 pts down, tumbles 1,500 pts in trading
That could crimp corporations used to years of cheap borrowing.
Also Read: Global market panic fades as Wall Street stems bleeding
Throughout his presidency, Trump has sought to portray record rises on Wall Street as indicative of the broader economy, rather than a reflection corporate America.
